3,685 Shares in Caterpillar Inc. $CAT Purchased by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has acquired a new position in Caterpillar Inc. by purchasing 3,685 shares, valued at approximately $1.215 million.
• Caterpillar reported earnings of $4.72 per share for the last quarter, missing estimates by $0.16, while revenue was up compared to consensus expectations.
• The company announced a quarterly dividend increase to $1.51 per share, representing an annualized yield of 1.4% with a 30.72% payout ratio.

Voleon Capital Management LP acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,685 shares of the industrial products company's stock, valued at approximately $1,215,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in Caterpillar during the fourth quarter worth about $33,000. Curat Global LLC acquired a new stake in Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the first quarter worth about $33,000. Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar during the fourth quarter worth about $36,000. Finally, Mattson Financial Services LLC acquired a new stake in Caterpillar during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Down 0.1%

Shares of NYSE:CAT opened at $422.70 on Tuesday. The stock has a market capitalization of $198.03 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a 50 day moving average price of $417.73 and a 200 day moving average price of $363.12.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.99 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a dividend of $1.51 per share. The ex-dividend date was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. Caterpillar's payout ratio is 30.72%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays upped their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, Robert W. Baird decreased their price objective on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $457.20.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock worth $8,943,642. Corporate insiders own 0.33% of the company's stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

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